Sale of Land - Legal questions
A colonel (not alive) was given a land by the government, now his two sons want to give that property to me. So what in written i can take from them so it become legally strong.
You will need these documents to effect the sale of property-
Sale Deed/Title deed /Mother deed/Conveyance Deed
Description of Property Document: A sale deed acts as the main legal property document for evidencing sale and transfer of ownership of property in favor of the buyer, from the seller. Further, it also acts as the main property document for further sale by the buyer as it establishes his proof of ownership on the property. Normally sale deed is executed after execution of sale agreement. Sale deed confirm that terms and conditions detailed in the sale agreement as agreed upon between the buyer and the seller are complied. It is mandatory to register the Sale Deed in Sub Registrar office in whose jurisdiction property is located. It is mandatory to register sale deed within 4 months from the date of execution else you need to pay penalty or it stands invalid. Why it is required: To establish the ownership of seller on title of property Mandatory: Yes. All previous Sale Deeds are required in original Required in Original: Yes
Sale agreement with the Seller
Description of Property Document: Sale agreement is executed between the parties for dealing with the property. Sale Agreement creates a right to obtain a sale deed mentioning the property. Normally it fixes a time for completion, payment of earnest money or part payment of purchase consideration. Generally it’s a property document that precedes a sale deed and in such cases does not require registration. Sale Agreement will not confer any charge or right on the property. However in some states the sale agreement is registered and will act as a sale deed. For Home Loan purpose, it is mandatory to pay stamp duty equal to 0.10% of Sale Agreement value.
Why it is required: To fix terms and conditions for sale Mandatory: Yes Required in Original: Yes
Release deed (If applicable)
Description of Property Document: Release Deed is executed to Release rights whereby a person renounces a claim upon other person or property. If you are purchasing a property, which might have been inherited by seller or was part of settlement between legal heirs of original owner then definitely you will come across release deed. It is very imp property document. Why it is required: As mentioned in Description Mandatory: Yes (As applicable) Required in Original: Yes
Latest Electricity Bill
Description of Property Document: Always insist on Latest Electricity Bill and Payment receipt from previous owner as Electricity bill is the another solid proof to establish the ownership of current owner. Why it is required: To establish ownership Mandatory: No Required in Original: Yes
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